If you are a small business owner struggling with debt, you need expert advice to make decisions about the future of your business. While a legal entity such as a corporation or LLC may file bankruptcy, a corporate bankruptcy will not remove your personal liability for guaranteed business leases, contracts, or other debts. As a result, many small business owners file personal bankruptcy. If an exit strategy from the corporation is needed, personal bankruptcy can enable you to walk away from guaranteed business debt. Alternatively, you may be able to preserve your livelihood without the burden of the corporate debt by restructuring the business prior to filing personal bankruptcy.
Bankruptcy for business owners is very complicated and requires expertise and experience. Wink & Wink offers both. Contact us to schedule a FREE CONSULTATION.